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City of Elk River <br />Land Analysis <br />April 18, 2016 <br />Page 14 <br />SUMMARY OF FINDINGS <br />It is important to note that the comparable sales have not been adjusted to a specific subject <br />property and not all of the comparable sales presented herein have been verified. <br />Based on our investigation, unit sale prices for single-family, medium -density and high- <br />density residential land proximate to Elk River are summarized as follows: <br />Single -Family Residential Land <br />Range: <br />Mean: <br />Median: <br />Mean, Excluding Outliers 2, 4, 7, <br />12, 14, 18 and 25: <br />Mean of 2014 and 2015 Sales, <br />Excluding Outliers: <br />Mean of 2015 Sales, <br />Excluding Outliers: <br />Medium -Density Residential Land <br />Range: <br />Mean: <br />Median: <br />Mean, Excluding 2013 Sales: <br />High -Density Residential Land <br />Range: <br />Mean: <br />Median: <br />Mean Excluding Outliers 2, <br />6 and 7: <br />$3,063 to $74,637 per Acre <br />$19,009 per Acre <br />$12,500 per Acre <br />$16,855 per Acre <br />$16,071 per Acre <br />$16,739 per Acre <br />$6,125 to $52,219 per Acre <br />$19,922 per Acre <br />$16,432 per Acre <br />$25,990 per Acre <br />$19,283 to $217,391 per Acre <br />$103,313 per Acre <br />$112,552 per Acre <br />$115,018 per Acre <br />PATCHIN MESSNER DODD & BRUMM <br />Valuation Counselors <br />